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5min chapter
Evan Koenig on the Case for Nominal GDP Targeting
Macro Musings with David Beckworth
Exploring Nominal Frictions and Financial Stability in Monetary Policy
This chapter examines the overlooked nominal frictions such as wage stickiness and fixed obligations in a recent FOMC strategy review. It critiques the narrow monetary policy focus and argues that nominal GDP targeting is compatible with the Federal Reserve's objectives of maximum employment and stable prices.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode